CBIC clears pending GST refunds of over Rs 7,000 cr of exporters in 1st nine days of special refund fortnight

Central Board of Indirect Taxes and Customs, CBIC has cleared over seven thousand crore rupees of the pending GST refunds of exporters in the first nine days of the ongoing Special Refund Fortnight.

The department asked exporters and traders to visit their jurisdictional GST office and settle pending claims during the fortnight from 31st May to 14th June. About 14 thousand crore rupees of refunds of exporters were pending due to various mismatches.

CBIC organised the special fortnight to fast track clearances. The CBIC has also allowed clearance of GST refunds based on PAN of exporters if such refunds were held up due to mismatch in GST identification Number mentioned in shipping bill and return forms.